India’s JSW Steel Ltd, Bharatia and Carbon Iceland International have signed a memorandum of understanding (MoU) to jointly explore development of a 300,000 tonne/year green methanol project in India.

The proposed project will use carbon dioxide emissions generated from JSW Steel’s facility at Raigad in the western Maharashtra state and convert them into green methanol using green hydrogen from renewable energy sources, JSW said in a bourse filing on 25 May.

“The initiative aims to demonstrate how industrial emissions can be transformed into low-carbon fuels and chemical feedstocks, creating a replicable model for future green industrial infrastructure,” it added.

As part of the MoU, JSW Steel will provide the industrial infrastructure for the project, Bharatia will support project development, execution and financing while Carbon Iceland International will provide the technology for carbon capture integration and low-carbon fuel (e-fuel) production, JSW said in its statement.

Bharatia is a non-profit foundation that focuses on scaling technology-driven solutions for emerging markets.

JSW Steel Ltd, is the flagship firm of the JSW Group which operates in the energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence and sports sectors.

In November 2025, JSW Energy, a subsidiary of the JSW Group began operations at its 3,800 tonne/year green hydrogen plant at Vijayanagar in the southern Karnataka state. The plant’s output is supplied to a JSW Steel facility at the same location for low-carbon steel production.

Source: ICIS 

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